Posted by davetrader on 9th of May 2008 at 04:13 pm
Most of you probably exited
DUG as we had that cross back up on the 70 line on the BPENER,
I am still in the trade as I have had a maximum pain hard stop at
29 below the pivot low of 4/22 all along on this trade and decided
since I was so close to this stop anyhow I would hang on.
Today we ended with an inverted hammer, now we need follow through
to the upside on Monday which would provide a
further indication that a bottom is in. The other thing
I see is positive divergence on the daily RSI which also provides
hope for this trade. Either way it is what it is, I will be
out if it falls below $29 but until then I am hanging
on.
Still in. In and out, but now in.
Lost $330 on 2700 shares in the IRA, Lost $100 in my trading acct
on 1200 shares. Not down much. Only holding 1200 in the trading
acct. have a stop in at $29.10 if I get hit, I will be out around
$800 total in that acct. Might set my stop at 28.80 and really ask
for trouble. I think a lot a stops set at $29, don't wanta get
stopped out if they trigger, just a little more breathing room :-)
I'm still in Dave. Also on the OIH daily, there is a
Hammer candlestick, and if I calculated the measurement of the
bathtub (I can't think what it's really called right now - don't
laugh), then OIH may have reached a double top. Thanks for
sharing. p.
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DUG
Posted by davetrader on 9th of May 2008 at 04:13 pm
Most of you probably exited DUG as we had that cross back up on the 70 line on the BPENER, I am still in the trade as I have had a maximum pain hard stop at 29 below the pivot low of 4/22 all along on this trade and decided since I was so close to this stop anyhow I would hang on. Today we ended with an inverted hammer, now we need follow through to the upside on Monday which would provide a further indication that a bottom is in. The other thing I see is positive divergence on the daily RSI which also provides hope for this trade. Either way it is what it is, I will be out if it falls below $29 but until then I am hanging on.
Who else is still in this trade?
DUG
Posted by arl3080 on 10th of May 2008 at 03:48 pm
davetrader--DUG gonna work--could be a bit more downside(Mon) BUT IMO--the trade will work
arl3080 - to me it
Posted by matt on 11th of May 2008 at 01:37 pm
arl3080 - to me it does look like DUG is trying to bottom, just have to decide how much your are willing to give it.
DUG
Posted by arl3080 on 11th of May 2008 at 03:07 pm
Matt--ur right- it is trying to bottom--but there is always the chance we hit 29 or bit lower
Yep, that's why I said
Posted by matt on 11th of May 2008 at 03:24 pm
Yep, that's why I said to each his own on this one
DUG
Posted by Michael on 9th of May 2008 at 04:31 pm
I'm still in DUG and I'm short oil.
DUG
Posted by arl3080 on 10th of May 2008 at 02:40 am
Micheal--DUG will work imo--just gotta have patience--something I lack--lol
Still in. In and
Posted by jimni22 on 9th of May 2008 at 04:27 pm
Still in. In and out, but now in. Lost $330 on 2700 shares in the IRA, Lost $100 in my trading acct on 1200 shares. Not down much. Only holding 1200 in the trading acct. have a stop in at $29.10 if I get hit, I will be out around $800 total in that acct. Might set my stop at 28.80 and really ask for trouble. I think a lot a stops set at $29, don't wanta get stopped out if they trigger, just a little more breathing room :-)
Gotta be close to the bottom.....
DUG
Posted by Peridot on 9th of May 2008 at 04:21 pm
I'm still in Dave. Also on the OIH daily, there is a Hammer candlestick, and if I calculated the measurement of the bathtub (I can't think what it's really called right now - don't laugh), then OIH may have reached a double top. Thanks for sharing. p.